ByteDance May Sell Mobile Legends Developer Moonton to Savvy Games

According to reports, ByteDance, the company behind TikTok, is in discussions to divest Moonton Technology, the developer of the popular game Mobile Legends: Bang Bang, to Savvy Games Group. The acquisition of Moonton by ByteDance took place in 2021. However, sources close to the matter indicate that talks are underway with Savvy Games, which is backed by Saudi Arabia's Public Investment Fund (PIF), despite rumors of limited investment funds available due to significant spending in the gaming and esports sectors over the past few years. Both ByteDance and Savvy Games have declined to comment on the negotiations, with sources acknowledging that a sale may not be the ultimate outcome. Saudi Arabia's Public Investment Fund has been involved in various controversies, including allegations of human rights abuses, and has stakes in several major gaming companies such as Nintendo, Capcom, and Nexon. The fund is also part of a consortium acquiring Electronic Arts, alongside investment firm Affinity Partners, founded by Jared Kushner, son-in-law of former US President Donald Trump. Recently, the president of the Communications Workers of America (CWA) urged the Federal Trade Commission (FTC) and the Committee on Foreign Investment in the US (CFIUS) to conduct a thorough review of the proposed buyout of Electronic Arts.